This week we have received 5 requested stocks for analysis: MWIDE, ANI, YEHEY, MPI and PNX. Based on these 5 stocks we got our list of stocks that we think may give us a good gain (MWIDE, ANI and YEHEY) and stocks that may not perform well this week (MPI and PNX)
We have a good reading on this stock last week and I think this stock will still give a good gain for this coming week. The Dragonfly Doji we have seen last time has just been confirmed of its bullish sentiment. On our last week of trading MWIDE gave us a good 8.05% gain. Maybe a little lesser this week but a gain will still be a gain and as long as price will hold above the 23.6% Fibonacci Retracement level then we are off to a good month.
AGRINURTURE, INCORPORATED (ANI)
ANI has been a disappointing stock to some traders because it has been in a downtrend for quite a while now. Lately it dropped by 11% in a week. But last week was a little different when we see a spinning top next to a large red candlestick. Are the bears tired of pulling the price down already? Relative Strength Index is already at 15 level which means this is already too oversold. We also notice that our Doji Star pattern in congruence with the double bottom line we seen on our chart. All these signals make ANI more appealing now. Will this be a technical rebound that can sustain for a week?
YEHEY! CORPORATION (YEHEY)
Yehey gave traders last week an 8.62% gain after it was in red the previous week. Looks like Yehey will still give another gain this week as we see the White Closing Marubozu on our weekly chart. Our daily chart gave us a BUY signal on RSI at 30.1 although last Thursday we only have 10 trades. But this stock is worth monitoring.
MPI looks tired last week when it present a sell down last Thursday. The large red candlestick last Thursday accompanied with a big volume and SELL signal on RSI warns traders of an impending bearish reversal. Looking at the weekly chart we can see a Shooting Star. We have seen this type of candlestick many times on different stocks and a great percentage of them makes the price go downward. Will it happen to MPI as well? Still, a confirmation is needed so just keep on eye on its movement if you have this stock. If you are in for a long term, then you should be smiling when it dips. If price will hold above 23.6% Fibonacci Retracement level then the dip should not be a big issue for short term holders.
PHOENIX PETROLEUM PHILIPPINES (PNX)
Few months ago a Bearish Doji Star was present at the top of an uptrend before the trend reversed. The price went down before it went sideways for weeks. This time we see another Doji star. Will there be a repeat of what happened last time? RSI just entered the 70 level.
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A computer engineer by profession and loves to develop online systems/websites. A self-thought stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks and Fibonacci retracement levels on his technical analysis but loves to hear some rumors as well.
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